What if the Fed's inflation target was a range of 2%-3% instead of a hard 2%? Would the market be as anxious? Core PCE is at 2.6%—inflation may not be fully defeated, but it’s contained enough for the Fed to shift focus.

Meanwhile, money supply is rising, but without velocity, it’s just sitting on the sidelines. The real driver of inflation? Money changing hands—something we’ll be watching closely.

Plus:

• The Atlanta Fed's GDP forecast just fell off a cliff—from 4% growth to -1.5%. The culprit? Tariffs.
• Job market warning signs: layoffs, spending freezes, and consumer pullback.
• Treasury yields react post-Eagles Super Bowl win—are we headed back below 4%?

It’s all in this week’s episode.